Gavin Maher News Today

Electric car subscription firm Onto, which has a fleet of 7,000 EVs and a customer base of 20,000 subscribers, has collapsed as it ran out of cash.

The brands products are stocked by the likes of Debenhams, House of Fraser and John Lewis, and its founders appeared in a TV show where contestants battled to win a designer role at the firm.

Car subscription service provider Onto has entered administration, blaming the “steep fall” in electric vehicle residual values.

Electric car subscription company Onto has entered administration just over a year after securing nearly £150m in funding.

Onto, which had raised hundreds of millions of dollars in debt and equity financing, called in administrators on Monday after failing to find a buyer, Sky News learns.

Onto was recognised as the fourth fastest-growing UK tech business by Deloitte last year

Major fast fashion brand Missguided has collapsed into administration, allegedly owing suppliers millions of dollars in unpaid invoices.

The Manchester-based ecommerce retailer has collapsed having failed to secure a rescue deal.

The retailer was issued with a winding-up petition last week by clothing suppliers who were owed millions of pounds

The retailer was issued with a winding-up petition last week by clothing suppliers who were owed millions of pounds